Iron Pellet export from India during Apr-Dec period of FY14 was at 1.1 MnT.
Jindal Steel and Power Limited (JSPL), which started export from Aug, 2013 was the largest exporter of Iron Pellets at 0.5 MnT. The 2nd largest was Essar Steel with a total export of 0.3 MnT followed by Ardent at 0.1 MnT for the Apr-Dec period of FY14.
The other contributors towards the Iron ore Pellet exports were Brahmani River Pellets Limited (BRPL), Netincon Marketing Pvt. Ltd. and Arya Group.
Major export occurred from Paradip Port in Odisha.It witnessed a total export of around 0.6 MnT. Iron Pellets were also exported from Vizag, Haldia and Gangavaram port.
Majority of the material was exported to China, Oman and Vietnam. The largest was China buying about 1 MnT of Pellets.
In a recent development, 5 percent export duty was imposed on Iron Pellets by the finance ministry on 27 Jan, 2014 on recommendations from ‘The Associated Chambers of Commerce and Industry of India’ (ASSOCHAM). The material already had an export duty of 12.5 percent and now an additional 5 percent. The export duty has resulted in price decline in the domestic as well as global market. Alternatively, India’s Iron ore exports for the year 2013 have come down to 14.1 MnT declining its position to 10th which stood earlier at 3rd during 2009-2011 and 4th in 2012. It’s in the news that Shah Commission’s recommendations of banning exports were rejected by the Central Government on 7 Feb, 2014 which might increase Iron ore exports in 2014.